Department for Business, Energy and Industrial Strategy

Iron and Steel: Manufacturing Industries

Michael Dugher: To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make an assessment of the effect of the recent change in the value of the pound on the purchasing power of British steel companies.

Mr Nick Hurd: My Department regularly reviews the impact of changing economic conditions on business including in specific sectors such as steel. We also talk regularly to companies to understand their view on market conditions including in formal meetings such as sector councils. Steel companies are impacted differently by exchange rates depending on the balance of raw materials they import from outside the UK and the location of their export markets.

Iron and Steel: Manufacturing Industries

Anna Turley: To ask the Secretary of State for Business, Energy and Industrial Strategy, what his Department's policy is on including the steel industry in its industrial strategy.

Anna Turley: To ask the Secretary of State for Business, Energy and Industrial Strategy, what his Department's responsibilities are on developing and implementing an industrial strategy.

Mr Nick Hurd: Responsibility for developing and implementing an industrial strategy clearly sits within the Department for Business, Energy and Industrial Strategy. We will be working closely across Government and with a range of organisations – including regional representatives, businesses, trade and research bodies, universities, and trade unions - to deliver this, to help ensure that the economy grows strongly in all parts of the country, and to support the UK’s global competitiveness. We will be engaging with all sectors, including the steel industry through the Steel Council, to understand issues common to multiple sectors, and where Government needs to focus its effort to support UK businesses.